New York SBDC Research Network

“I am proud to be paying taxes in the United States. The only thing is – I could be just as proud for half the money.” — Arthur Godfrey, entertainer With tax season among us it can become a chaotic time of the year for business owners. Provided is a surplus of articles to remedy the potential hectic  process,  easing you through what many business owners dread- lending you an extra hand. Get It Right The First Time:   Five Basic Tax Tips for New Businesses . Never Miss An Important Deadline Again:   IRS's free Tax Calendar for Businesses and the Self-Employed     Keep Up On The Latest Tax Code Changes:   changes for the 2015 tax year here .  Don't Leave Money On The Table:   frequently overlooked tax deductions and credits     taxe s and credits tool   Make Sure Your Returns Are Error-Free:   eight tax mistakes .  Avoid Getting Audited:   red flags that can trigger an audit   here's what to do .

Publication130-F (7/12) The Department of Taxation and Finance’s purpose in conducting an audit is to verify that you paid the correct tax. During the audit, you may be required to provide the auditor with whatever records are necessary to verify the information you provided on your return. Depending on the type of return being audited, this may entail a review of your income, receipts, expenses, credits, and other business records.